Career in venture debt investing vs. venture equity investing

I was curious if anybody could help explain a career in venture debt vs. venture equity. I searched all over WSO and doesn't seem to be a well covered topic.

From a a capital structure POV, I know the former invests using mezz debt and preferred stock whereas the latter is common stock. However, I'm curious to learn more about the trajectory and skillset of the debt side - would it prepare me to still be an equity investor in the future if I decide to change? Is the job any different from being a lender like Golub, Ares,etc.? Will I niche myself off?

I'm also curious on who the best players are in the market. I saw a great post from @APAE" on venture debt from earlier this year and mentioned a few key players. (WTI, Triplepoint, SLC Waterman, Bluecrest, Hercules Technology, Horizon Technology, Lighthouse, etc.)

 

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